New Delhi, Jan 30 (IANS) Commerce and Industry Minister Piyush Goyal on Friday said the successful conclusion of the India-EU Free Trade Agreement (FTA) is truly a historic milestone, unlike the "UPA era where agreements were rushed" and "India often conceded far more than it gained".

The minister said the EU trade deal will strengthen key sectors of our economy while fostering prosperity, as every region and citizen stands to gain from its many benefits.

“I also draw a sharp contrast with the UPA era, where agreements were rushed and India often conceded far more than it gained,” he posted on X social media platform.

Now, guided by Prime Minister Narendra Modi’s decisive leadership and strategic vision, “deals prioritise India's core interests while expanding markets, creating jobs, and driving economic growth”.

Earlier, Goyal strongly countered the Congress’ criticism of the India-EU FTA, asserting that the deal is not a zero-sum pact but a mutually beneficial one that will fuel India’s economic growth and open up large opportunities for businesses and citizens.

According to PM Modi, this agreement will deepen economic ties, create opportunities for our people and strengthen the India-Europe partnership for a prosperous future.

The historic agreement with EU, which is India’s largest FTA in history, has substantial benefits for the 1.4 billion people of India. It will unlock access to European markets easier for our farmers and small industries, create new opportunities in manufacturing, and strengthen cooperation between our services sectors, said PM Modi.

“This landmark deal between the second largest and fourth largest economies of the world promise to create unprecedented opportunities and open new avenues of growth as well as cooperation. This deal will benefit the entire global community,” he further stated.

The FTA would also help create quality jobs in key sectors, enable further mobility for our youth, professional talent, students and researchers, and unlock the potential of the digital age. Importantly, it will foster innovation and strengthen economic ties for mutual growth. The India-EU Business Forum was a great platform to discuss the wide-ranging economic linkages between India and Europe.

--IANS

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